Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The two dishes prepared by Common Bond will be designated as A and B. The costs of ingredients are $3 for dish A and $2

The two dishes prepared by Common Bond will be designated as A and B. The costs of ingredients are $3 for dish A and $2 for dish B. There are up to 7 kitchen-hour available per day, and there are 400 eggs in the fridge for the day.

The preparation time is 11 minutes for dish A and 10 minutes for dish B.

To prepare dish A, just one egg is needed, and to make dish B, 3 eggs are needed.

The daily price-response functions for these two dishes are:

dA(pA) = 280 - 15 pA

dB(pB) = 210 - 12 pB

a. The restaurant's daily optimal total contribution is: (Round your final answer to 2 decimal places.)

b. The optimal selling price for dish A is: Round your final answer to 2 decimal places.)

c. The optimal selling price for dish B is: (Round your final answer to 2 decimal places.)

d. The demand at the optimal price for dish A is: (Round your answer to the nearest integer)

e. The demand at the optimal price for dish B is: (Round your answer to the nearest integer)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago